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Total expenses amounted to $1.83 billion, up 13% year over year. This was due to a rise in all cost components except amortization of deferred sales commissions, which witnessed a fall.

Non-operating income (on a GAAP basis) came in at $10 million, up significantly from $1 million in the year-ago quarter.

BlackRock’s adjusted operating income came in at $1.4 billion, up 15% year over year.

Strong AUM & Inflows

As of Sep 30, 2017, AUM totaled $6 trillion, up 17% year over year. Further, during the reported quarter, the company witnessed long-term net inflows of $75.8 billion.

Share Repurchases

During the quarter, BlackRock repurchased shares worth $275 million.

Our Viewpoint

BlackRock remains well poised for opportunistic acquisitions, supported by a strong liquidity position. Moreover, its initiatives to gain market share in the ETF business are expected to drive revenue growth in the future. However, increased dependence on overseas revenues and regulatory restrictions are primary near-term concerns.

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

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At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +25% per year. These returns cover a period from 1988-2017. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zack Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.

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